Logiciel Solutions Ltd IPO
IT - Software
Price Band
₹183 – ₹193
Lot Size
600
Minimum Bid Quantity
1200
Minimum Investment
₹231600
Issue Size
₹39.9Cr
Opens
2025-11-28
Closes
2025-12-02
Listing
05-12-2025
Subscription Status
Qualified Institutional Buyers
1.32 x
Non-Institutional Investor
0.75 x
Retail Individual Investor
3.35 x
Total
1.96 x
IPO Details
Issue Type
FP
Face Value
₹10
Tick Size
1
ISIN
INE1BA901016
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Logiciel Solutions is an outsourced software development company involved in providing end-to-end custom software solutions for enterprises and startups. The company works in areas such as cloud engineering, artificial intelligence (AI) and machine learning, UI/UX design, and application development, using various digital and cloud-native technologies. Its services cover digital product development, software optimisation, and the creation of web, mobile, and tailored application solutions. The company also incorporates AI tools within its development processes, including code generation, automated testing, interface enhancement, and project management support. Logiciel Solutions’ registered office is located in Ludhiana. The firm operates primarily from its central development center in Ludhiana, which hosts most of its engineering and delivery teams. It also maintains a distributed remote workforce across India through a hybrid operating model.
Pros
- • Logiciel Solutions claims to have substantial experience working with startup founders and technology leaders, supporting projects from MVP development to large-scale platforms. The company works on investor-ready demos, scalable and well-documented systems, and long-term maintainability. It also claims to deploy software teams that integrate with internal stakeholders and adapt to evolving business requirements.
- • The company claims to be an early adopter of AI tools such as Cursor, Microsoft Copilot, and Windsurf across its development lifecycle. These tools are used for automated code generation, AI-driven testing, bug detection, code reviews, and project forecasting through platforms like JIRA and ClickUp. This approach aims to enhance delivery speed and minimise manual effort.
- • Logiciel Solutions claims to onboard dedicated teams within 1-2 weeks for new projects. Its onboarding process includes immediate alignment on architecture, workflows, and communication protocols to ensure minimal ramp-up time.
Cons
- • The top customer accounted for Rs 6.53 crore (51.34 percent) of the company’s revenue for the period ended September 30, 2025; Rs 13.04 crore (62.37 percent) in FY25; Rs 11.81 crore (69.76 percent) in FY24; and Rs 8.35 crore (59.97 percent) in FY23. Any adverse change in business volume, payment behaviour, or continuity of engagement from this key client can materially affect the company’s revenue, financial condition, and overall operations.
- • The US accounted for 96.28 percent, 96.48 percent, 99.60 percent, and 98.60 percent of the company’s revenue for the period ended September 30, 2025, in FY25, FY24, and FY23, respectively. This high dependence exposes the company to economic, regulatory, and geopolitical developments specific to the US, including recessionary trends, outsourcing restrictions, or changes in data privacy laws. Any adverse shifts in the US business environment or reductions in demand from customers in that region could hurt the company’s operations, revenue stability, and financial performance.
- • Logiciel Solutions derives a significant portion of its revenue from clients operating in the home improvement and construction industry. This segment accounted for Rs 7.43 crore for the period ended September 30, 2025, Rs 14.51 crore in FY25, Rs 11.81 crore in FY24, and Rs 10.54 crore in FY23. Any loss of customers in this sector, or a reduction in service demand due to industry-specific fluctuations, could hit the company’s revenue and profits.
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